The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1887-08-11
Ives and Stnyner Resign.

NEW YORK, Aug. 9.-Shortly before
noon to-day the committee appointed
to investigate Henry S. Ives manage
ment of the Cincinnati, Hamilton 81
Dayton Railroad met to listen to any
statement Mr.. Ives might have to
make. Mr.. Ives did not appear. The
members of the committee state that
| he distinctly promised to make full
and complete state of the affairs of the
company. They also expect him to re-
sign, and Mr.. Christopher Meyer said
| that if Mr.. Ives did not resign to-day
the road will be thrown into the hands
of receiver, so that the stockholders
may be enabled to get to the books and
thoroughly investigate the dOings of
/ Mr.. Ives. Mr.. Meyer says the Cincin-
natl people are complaining that there
is shortage of So 200, 900, and that if
this cannot be explained criminal
| proceedings will at once be instituted.
| The committee were compelled to wait
| over an hour, as it was 100 when Ives
arrived at his Office, where the meeting
was being held. There was a great
deal of delay in getting things into
were arranged business was lively
enough. The first thing done was to
receive the designations of President
Stayner and Ives, and the election of
A. S. Winslow, of Cincinnati, as Presi-
dent, and Christopher Meyer, of New
York, as Vice President. The credi-
tors appointed committee consisting
of Irving A. Evans, L. j. Emery and
James Thompson to meet committee
of directors, consisting of Julius Dex-
ter, Christopher Meyer and Harrison
to take further steps in the OrganiLa-
ton of the Company. The creditors
committee met Immediately to begin
an investigation of the affairs of the
Company.
A quorum of the Board of Directors
of the road was present and there was
| sent management. Just before O'CLOCK
Mr.. Ives rushed out, secured a big led
ger in another Office and rushed bacl
| with the ledger on his shoulder. He
: started in to explain matters to the
other directors, but his explanations
did not seem to be received with favor
When a reporter asked him if he haC
resigned he said he could not answe
, until 8 O'Clock. When asked to explain
! the situation he waved his hand to
ward the cashier and said: ''You cal
see that we are meeting our liabilitie
as usual. The meeting adjourned unit
tomorrow without finishing its work
Ives has turned over his property t
s Waite, Meyer q Dexter, as trustees
3 and Is trying TO arrange with his credl
3 tors to put their claims in the sam
a hands. Nothing viii be done in thi
n matter until morning, although tn
a consideration of the proposition ha
, led the Farmers Loan s. Trust Con
I pany to withdraw ,100 shares of Cir
d cinnati, Hamilton s. Dayton stock froI
4 the auction sale tomorrow morning.
st On the exchange to-day, Ives partnG
< bought the 100 shares sold yesterday &
10 40 from the buyers and paid 100 for i
1T The stockholders committee hay
lg finished the count of the remaining &c
n tiicates of preferred stock and fin
30 that about 81, O00, 600 has been issue
o, This is stated to be much less tina
IN was feared. 1t is stated by couns
ID for the creditors committee that the
e. claims will not be placed in the tru
le teeship proposed by Ives. The resi-
Q. nation of both Ives and Stayner is of
IS cially stated to have been UnconC
lg tional,